The dollar's rise weighs on the price of the gold ounce

Everything for the dollar and nothing for the euro ... We could summarize the comments of the analysts.

Indeed, the dollar has benefited at the beginning of this week from a perspective of rate hike and therefore the continuation of the policy of monetary tightening of the FED but also the increase in production prices across the Atlantic.

The single currency, for its part, is facing the brunt of the Brexit and Italian budget problems. Italy seems far too optimistic about its growth forecasts and could therefore not respect the budgetary rules imposed by Europe. We will know more in the coming days.

But all these factors have made the euro dollar pass below the 1.13 mark and this amply justifies the drop in the ounce of gold which flirts again dangerously with the 1200 usd.

The rise of the one counterbalancing the decline of the other European saver has seen the drop of gold "only" a small 200 eur to 34,370 (middle course).